Pakistan’s finance minister says country headed in ‘right direction’

Pakistan’s finance minister said the government has taken steps that will put the country on the right track and help the South Asian nation avoid an economic collapse. But that will cause pain for its people, he added. The country is desperately fighting for its survival as the recent rise in commodity and energy prices […]

Is Japan open to travelers? It’s where Singaporeans want to travel

Some 49% of Singaporeans say they are considering Japan for their next vacation abroad, according to the market research firm YouGov. Interest may be even higher among young citizens. Some 68% of Singaporeans aged 16 to 24 years old indicated they are considering Japan for their “next vacation,” compared to 37% of those aged 55 […]

Indian rupee weakness, hitting fresh lows amid global headwinds 

Two thousand rupee notes on display with an Indian flag in the background. Manish Rajput | SOPA Images | LightRocket via Getty Images The Indian rupee has come under intense selling pressure due to a perfect storm of global headwinds which analysts say will continue to pummel the currency in the months ahead. In recent […]

Alibaba seeks to work with U.S. regulators over audit problems

Alibaba has faced growth challenges amid regulatory tightening on China’s domestic technology sector and a slowdown in the world’s second-largest economy. But analysts think the e-commerce giant’s growth could pick up through the rest of 2022. Kuang Da | Jiemian News | VCG | Getty Images Chinese e-commerce giant Alibaba said it will comply with […]

Homeowners in Singapore could soon feel pinch from rising mortgages

Banks in Singapore raised housing loan rates in June, following the U.S. Federal Reserve’s decision to increase interest rates by 75 basis points in the same month to cool inflation — its most aggressive hike since 1994. Nurphoto | Nurphoto | Getty Images Homeowners in Singapore are starting to tighten their belts as they will […]

India’s bold GST reform expands tax base but too soon to celebrate?

Five years after it was launched, the simplified GST scheme has resulted in tax collections in India rising to record levels. Anand Purohit | Moment | Getty Images It’s been 5 years since India introduced its Goods and Services Tax, and while the government’s revenue collection has soared, some analysts say it may be too […]

India’s IT giants pay CEOs millions despite software talent turnover

There is a wild mismatch between the salaries of the CEOs of Indian Information Technology companies and lower and mid-level employees, the latter seen here going about their business at the headquarters of India’s best-known technology company, Infosys Technologies Ltd. in Bangalore in a stock photo. Bloomberg | Bloomberg | Getty Images The chief executive […]

Japan PM lacks political capital to revise post-war constitution: Analyst

Voters cast a ballot at a polling location in the Minato District of Tokyo, Japan, on Sunday, July 10, 2022. Toru Hanai| Bloomberg | Getty Images Japan’s Prime Minister Fumio Kishida doesn’t appear to have the “political capital” to revise the country’s historic post-war constitution despite securing a decisive win in the latest upper house […]

China factories are feeling some heat as U.S., Europe demand slows

Pictured here on June 24, 2022, are workers making umbrellas in a factory in Jinjiang city, Fujian province, China. Yuan He | Future Publishing | Getty Images European sales for Guangdong-based coffee machine company HiBrew have tapered off after a sterling run last year when pent-up global demand drove up purchases of Chinese consumer goods.  […]

Beijing city to require Covid vaccinations for some public venues

Chinese cities like Beijing, pictured here on July 6, 2022, require negative virus tests from within the last 72 hours in order to enter most public spaces. Kevin Frayer | Getty Images News | Getty Images BEIJING — China’s capital city is set to require Covid vaccinations for entering gyms and some other venues, the […]

Chinese plans to save hit a record high in Q2; job concerns rise

Education remained the most popular category for Chinese consumer’s planned spending, according to a People’s Bank of China survey in the second quarter of 2022. China News Service | China News Service | Getty Images BEIJING — Chinese consumers’ inclination to save is at its highest in two decades, the People’s Bank of China found […]

Taiwan and the United States to hold trade talks on Monday

Deputy U.S. Trade Representative Sarah Bianchi will meet the island’s top trade negotiator, John Deng, to discuss an initiative on 21st-century trade. Jon Cherry | Getty Images Entertainment | Getty Images Taiwan and the United States will hold trade talks on Monday under a newly agreed framework, the office of the U.S. Trade Representative said. […]

What is Web3? Silicon Valley’s favorite new buzzword explained

Some crypto enthusiasts want a new kind of internet that yanks power away from Big Tech and hands it to people. Can they succeed? Remember AOL chatrooms and downloading songs through Napster? The internet has come a long way.Today, it’s dominated by Meta, Google and a handful of other tech giants whose services have made […]

How China’s Shein became more valuable than H&M and Zara combined

Shein is a Chinese fashion e-commerce company that’s outperforming many of its competitors. Its reported valuation in April 2022 was $100 billion – more than H&M and Zara combined. Chinese e-commerce company Shein took the top spot as the most downloaded app in the United States in May, according to a report from intelligence firm Marketplace […]

Self-driving car companies’ first step to making money isn’t robotaxis

A WeRide robotaxi with health supplies heads to Liwan district on June 4, 2021, in the southern Chinese city of Guangzhou. Southern Metropolis Daily | Visual China Group | Getty Images BEIJING — While governments may be wary of driverless cars, people want to buy the technology, and companies want to cash in. It’s a […]

No global recession yet but brace for stagflation, economists say

A global recession is not imminent, but brace for rising costs and slower growth, economists say.  “There will be no sudden ‘after’ of stagflation,” said Simon Baptist, global chief economist at the Economist Intelligence Unit, referring to a surprise recession after a period of stagflation. As the war in Ukraine and pandemic disruptions continue to wreak havoc on […]

What is the Indo-Pacific framework, who’s in it, why it matters

U.S. President Joe Biden formally introduced the Indo-Pacific Economic Framework, or IPEF, this week during his first Asia tour, revealing Washington’s long-awaited Asia-Pacific economic strategy.  It comes five years after the U.S. unilaterally withdrew from the Trans-Pacific Partnership, a trade deal signed by 12 countries in Asia-Pacific, North America and South America. With the U.S. […]

Why China will likely recover more slowly from the latest Covid shock

As Shanghai tries to reopen businesses, one downtown district over the weekend banned residents from leaving their apartment complexes again for mass virus testing. Pictured here, in another district on May 21, 2022, is a line outside a shopping mall. Xu Kaikia | Visual China Group | Getty Images BEIJING — China’s economy won’t be […]

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